LISTEN: Truss Shuts Down Today’s Gotcha Questioning on Tax

Liz Truss put in a strong performance on the Today Programme this morning, batting away Nick Robinson’s questions on the potential inflationary effects of tax cuts, the political orthodoxy within the Treasury and whether she’s trying to emulate Thatcher. Her team will be pleased…

Asked to name one leading economic figure who supports cutting taxes immediately to curb inflation – a question Robinson clearly presumed would throw Truss off course – Liz immediately pointed to Patrick Minford, before laying into the Treasury for resisting economic change and stifling growth:

What I know about the Treasury is they do have an economic orthodoxy. And they do resist change… we need to unleash investment in our country, we need to get the EU laws off our statute books…  Reducing national insurance, reducing corporation tax increases the supply side of the economy. And the reason we have inflation is it’s a supply shock combined with a slightly loose monetary policy over the time.”

With Robinson still insisting those cuts are “a gamble“, Truss shot back with “it’s an economic reality, it’s not a gamble“. Truss will need to prove she’s a strong debate performer during the hustings. Team Rishi’s bet that Liz falls apart during those hustings may prove risky…

 

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